Mony Shah, 9 hours ago
Asking For A Raise: Mastering The Art Of Negotiation For A Higher Salary
You love your job. But do you find yourself wishing that you had a higher salary, especially if you’ve been making significant contributions to your company? And do you constantly find yourself hoping that your boss would see how hard you work and instantly offer you better pay?
Sadly, that’s not how real life works most of the time. You must go to your boss, present your case, and negotiate for better pay. And if you’re dreading this step, it’s normal. After all, it will be more than just showing your boss a pay raise calculator and asking for more money!
Doing this can be, indeed, scary, but if you think about it, it’s necessary for you to have more professional growth and financial stability. And you don’t need to be afraid. Keep on reading for five things you should do when negotiating for better pay.
Do you know the one big reason why people get nervous about asking for pay raises? They don’t know specifically why they want one; they just want more money. And if that’s going to be your motivation for asking for a better salary, of course, you’re going to have a hard time asking for a raise.
Yes, it’s reasonable to want more money because you want to afford a vacation, pay for a new car, and so on. But remember, your boss won’t care about those things. So instead, slant your thinking to what you’ve already done for your company.
Have you increased sales or improved customer retention? Or did the company give you more responsibilities without increasing your pay, and you’ve done a good job adjusting?
When you have a clear understanding of your value and what you bring to the table, you can approach the salary increase conversation with confidence and increase your chances of success.
Now, related to the first point is this: you need to have a record of your specific accomplishments and the positive impact they’ve had on your department and the company. If you have numbers and statistics to back you up, that’s better. True data will be hard for your boss to ignore, after all.
It’s also good if you can compile positive feedback from clients, fellow employees, and even your boss themselves. That further reinforces the idea that you’ve actually been doing good things in your department.
Finally, remember: your boss will not care why you want more money. What you should do instead is present to your boss what’s in it for them, such as your future plans and how they’ll make the company better. The better you flesh that out, the better!
Just because you have all your goals and data in hand doesn’t mean you should march up to your boss and immediately ask for a raise. It’s a sensitive topic, after all. That means you should do this with the correct timing.
One of the best times to ask for a raise is when an employee evaluation has been done recently or immediately after you’ve delivered something good for the company. That means your manager will generally be happy–or they might even be the first to bring up added compensation!
On the other hand, if your company has recently had a lot of cutbacks and layoffs, that might mean your company is not in good shape right now. That also means they may not be able to afford a raise for you.
One more thing to consider is your manager’s current workload. The busier they are, the less likely they’ll entertain the thought of giving you a raise, much less meet with you. That’s especially if they’re currently working on something stressful.
Once you’ve finally met with your manager or boss, keep your focus. Don’t resort to overly detailed presentations or chatting to the point that you forgot what you’re there for. Remember, your manager is busy just like you–they won’t have time to talk to you for an hour.
Go in confident but polite and grateful, then get straight to why you set the meeting: you want a raise. From there, simply state what results you’ve achieved or the new responsibilities you’ve taken on. Finally, name the specific figure that you want to have.
From there, wait for the response. Be prepared to answer questions your boss may have for you.
There are three ways this conversation can go. The first is the most desirable: your boss agrees to the raise and will set things up with HR. Congratulations!
The next is that your manager will need to have the raise approved by someone above them. If that’s the case, that’s when your records of accomplishments and data will come in useful. You can leave it with your boss so they can show it to their superior and, hopefully, get a favorable response. Follow up after a week.
Finally, your manager can say that right now, they cannot give you a raise. If this is the response you get, make sure not to be unprofessional and throw a fit. Remember that there are many factors when raising employees’ salaries.
Instead, ask your boss what you can do to be considered for a pay raise. And if you can’t get a raise, try asking for more perks instead, such as additional vacation time, flexible work hours, or even work-from-home privileges. Try negotiating for a situation where you and your boss will be happy.
Asking for a pay raise can be uncomfortable and nerve-wracking, but it’s worth preparing for. If you know why you want a raise and have the necessary data to back up your claims, you can confidently meet with your boss and ask for better pay. Timing is also important, so choose a suitable time for this conversation and be prepared for any possible outcomes–even negative ones.
Remember, even if you don’t receive a raise this time, expressing your desire for better pay and talking about your achievements can still benefit you down the road. Don’t be discouraged, and don’t hesitate to ask for a raise again in the future.